Primo Brands Co. (PRMB) To Go Ex-Dividend on March 7th

Primo Brands Co. (NYSE:PRMB) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Friday, March 7th will be paid a dividend of 0.10 per share on Monday, March 24th. This represents a $0.40 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Primo Brands’s previous quarterly dividend of $0.09.

Primo Brands Stock Up 0.3 %

Shares of Primo Brands stock opened at $33.23 on Wednesday. The company has a fifty day simple moving average of $32.49. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 0.78 and a beta of 1.10. Primo Brands has a 52 week low of $16.10 and a 52 week high of $35.25.

Primo Brands (NYSE:PRMB) last announced its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.08). The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. As a group, equities analysts expect that Primo Brands will post 1.13 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on PRMB shares. JPMorgan Chase & Co. boosted their target price on Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Royal Bank of Canada boosted their price objective on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 6th. TD Securities raised their target price on Primo Brands from $40.00 to $48.00 and gave the company a “buy” rating in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Primo Brands from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, BMO Capital Markets initiated coverage on shares of Primo Brands in a research note on Monday, January 6th. They issued an “outperform” rating and a $40.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $41.40.

Primo Brands Company Profile

Primo Brands Corp. is a branded beverage company, which focuses on healthy hydration. It delivers sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in the United States and Canada. The company provides water filtration units for home and business consumers across North America.